GM To Sell, Lease Volt

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The Chevy Volt is open for business. Chevrolet Wednesday announced that the Volt, which will be GM’s first electric vehicle, will sell for $41,000 and also be available for lease at $350 a month. Buyers are eligible for a federal tax credit that will cut the price by $7,500

Chevy Volt Vehicle Line Director Tony Posawatz expects the demand will exceed the Volt supply, but says they’ll do their best to meet the demand.

Volt production begins late this year at GM’s Detroit-Hamtramck facility. For model year 2011, Chevrolet expects to produce 10,000 Volts and increase that number to 30,000 in 2012.

The Chevrolet Volt is capable of about 340 miles total driving range, with electricity powering the car at all times and speeds. For trips of up to 40 miles, the Volt gets its power solely from electricity stored in its 16-kWh lithium-ion battery. When the Volt’s battery runs low, a sophisticated engine-generator seamlessly engages to extend the driving range to about 300 miles on a full tank of gas.